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Next generation data storage technology is comprised of advanced data storage products and solutions, in order to deal with increasing file size and a vast amount of unstructured data. Next generation data storage allows secure and reliable recovery of data in an efficient manner. It has facilitated scalable storage and handling of the vast amount of unstructured data generated by large enterprises. Furthermore, next generation data storage is used in various industry verticals including BFSI, healthcare, retail, etc.

 The Global Next Generation Data Storage Market was valued for US$ 66644.1 Mn in 2021 is expected to exhibit a CAGR of 11.5% during the forecast period.

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Next Generation Data Storage Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 66644.1 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR:  11.5% 2030 Value Projection: US$ 174457.8 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Type: Direct Attached Storage (DAS), Network Attached Storage (NAS) and Storage Area Network (SAN)
  • By Architecture: File Storage, Object Storage and Block Storage
  • By Storage Medium: Tape, Hard Disk Drive(HDD) and Solid State Drive (SSD)
  • By Deployment: On Premise and Cloud
  • By Industry Vertical: BFSI, Government, Retail, IT and Telecommunication, Manufacturing, Healthcare, Education and Media and Entertainment
Companies covered:

Avago Technologies, Dell, IBM Corporation, EMC Corporation, Hitachi Data Systems, Micron Technology, Hewlett-Packard Development Company, Nutanix, Toshiba Corporation, Drobo, Quantum Corporation, and SimpliVity Corporation.

Growth Drivers:
  • Rising proliferation of smartphones, tablets, and laptops is expected to drive growth of the global next generation data storage market during the forecast period
  • Rapid growth of e-commerce sector is expected to propel the global next-generation data storage market growth over the forecast period
Restraints & Challenges:
  • Data security breach in the cloud and server-based services is expected to hamper the global next generation data storage market growth over the forecast period
  • High cost associated with cloud storage is expected to restrain growth of the global next generation data storage market during the forecast period

Recent Developments:

  • In April 2022, Quantum Corporation, a solution provider for video and unstructured data, introduced the Quantum F2100 NVMe storage appliance for faster performance and better NVMe (nonvolatile memory express) storage capacity than previous generations of their storage appliance.

Restraint:

  • Data security breach in the cloud and server-based services is expected to hamper the global next generation data storage market growth over the forecast period
  • High cost associated with cloud storage is expected to restrain growth of the global next generation data storage market during the forecast period

Next Generation Data Storage Market - Impact of Coronavirus (Covid-19) Pandemic:

The COVID-19 Pandemic has had a favorable impact on the market for Next Generation Data Storage. Next-generation data storage is widely used in healthcare, retail, manufacturing, BFSI, and other industries to enable scalable storage and handling of enormous amounts of unstructured data generated by organizations. Because conventional data storage is capable of handling the vast quantity of data generated on a daily basis, many organizations prefer next generation data storage solutions. As a result of the extensive usage of storage devices during the pandemic, the next generation data storage market grew.

North America held a dominant position in the global next generation data storage market in 2021

Statistics:

North America region dominated the global next generation data storage market in 2021, accounting for a 35.7% share in terms of value, followed by, Asia Pacific and Europe, respectively.

Figure 1: Global Next Generation Data Storage Market Share (%), By Region, 2021

Next Generation Data Storage  | Coherent Market Insights

North America next generation data storage market is expected to be one of the prominent region in the global market and witness high growth during the forecast period. So it is expected to boost the regional market growth.

Figure 2: Global Next Generation Data Storage Market (US$ Mn) Analysis and Forecast, 2017 - 2030 

Next Generation Data Storage  | Coherent Market Insights      

The global next generation data storage market was valued at US$ 66644.1 Mn in 2021 and is expected to reach US$ 174457.8 Mn by 2030, growing at a CAGR of 11.5% between 2022 and 2030.

Major players operating in the global next generation data storage market include Avago Technologies, Dell, IBM Corporation, EMC Corporation, Hitachi Data Systems, Micron Technology, Hewlett-Packard Development Company, Nutanix, Toshiba Corporation, Drobo, Quantum Corporation, and SimpliVity Corporation.

Next generation data storage solutions are primarily used in the BFSI, government, retail, IT and telecommunication, manufacturing, and healthcare industries. The IoT devices used in the manufacturing facilities generates data in different type of formats such as images or texts. Moreover, in order to store and analyze data, companies are rapidly adopting next generation data storage solutions.

The Next Generation Data Storage Market was valued for US$ 66644.1 Mn in 2021.

Market Dynamics

The growth of the global next generation data storage market is majorly attributed to the product development by the companies such as Dell Technologies. For instance, in June 2020, Dell Technologies launched EMC PowerScale, a storage system for unstructured data. Moreover companies such as Hewlett-Packard Enterprise are partnering with other companies to develop the next generation storage solutions. For instance, in June 2019, Hewlett-Packard Enterprise entered into a partnership with the Qumulo, a cloud storage solution provider to develop both on-premise and cloud-based storage solutions. Thus, product development and partnerships are the factors that are expected to propel growth of the market during the forecast period 2020-2027.

Key features of the study:

  • This report provides an in-depth analysis of the global next generation data storage market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2017-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global next generation data storage market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global next generation data storage market include Avago Technologies, Dell, IBM Corporation, EMC Corporation, Hitachi Data Systems, Micron Technology, Hewlett-Packard Development Company, Nutanix, Toshiba Corporation, Drobo, Quantum Corporation, and SimpliVity Corporation.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, architecture up gradation, market expansion, and marketing tactics
  • The global next generation data storage market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global next generation data storage market

 Detailed Segmentation

  • Global Next Generation Data Storage Market, By Type:
    • Direct Attached Storage (DAS)
    • Network Attached Storage (NAS)
    • Storage Area Network (SAN)
  • Global Next Generation Data Storage Market, By Architecture:
    • File Storage
    • Object Storage
    • Block Storage
  • Global Next Generation Data Storage Market, By Storage Medium:
    • Tape
    • Hard Disk Drive(HDD)
    • Solid State Drive (SSD)
  • Global Next Generation Data Storage Market, By Deployment:
    • On-premise
    • Cloud
  • Global Next Generation Data Storage Market, By Industry Vertical:
    • BFSI
    • Government
    • Retail
    • IT and Telecommunication
    • Manufacturing
    • Healthcare
    • Education
    • Media and Entertainment
  • Global Next Generation Data Storage Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Avago Technologies*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Dell
    • Drobo
    • EMC Corporation
    • Hewlett-Packard Development Company
    • Hitachi Data Systems
    • IBM Corporation
    • Micron Technology
    • Nutanix
    • Toshiba Corporation
    • Quantum Corporation
    • SimpliVity Corporation

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global market for next generation data storage is expected to reach US$ 174457.8 Million by 2030.
The market is expected to grow at 11.5% CAGR over the period (2022-2030).
Rising proliferation of smartphones, tablets, and laptops is expected to drive growth of the market during the forecast period
Direct-Attached Storage sub-segment holds the largest market share among Type segment contributing 38.1% market share in terms of value in 2021.
North America region hold the largest share in the market in 2021 in terms of value.
Key players operating in the global next generation data storage are Avago Technologies, Dell, IBM Corporation, EMC Corporation, Hitachi Data Systems, Micron Technology, Hewlett-Packard Development Company, Nutanix, Toshiba Corporation, Drobo, Quantum Corporation, and SimpliVity Corporation

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